North Wales Police have warned cryptocurrency holders after a victim was tricked into handing over access to their Bitcoin wallet, losing £2.1 million in the process. Fraudsters posed as senior UK Police Officers, claiming the victim’s identity was found during an arrest. Exploiting the victims’ fear of losing their investment and them realising the urgency to cooperate with those they thought were the police, the individual was tricked into logging in via a fake website that the fraudsters created. Within moments, the scammers rebuilt the wallet and stole the funds.
Police believe the victim may have been targeted using personal data from a breach, making this a highly tailored and advanced scam. This case shows how fraud tactics constantly evolve and become increasingly difficult to detect.